Forex Daily Forecast, Analysis and Prediction

Despite the recent bullish rebound attempts, the XAU/USD gold price remains near an 11-month low as investors assess the strength of the US dollar amid concerns about global economic growth, as well as inflation expectations and interest rate hikes.

Despite recent profit taking sales, the USD/JPY currency pair is still in an upward direction.

The GBP/USD exchange rate corrected higher from near-COVID lows ahead of the weekend, but it may try to regain more ground lost.

The EUR/USD exchange rate could rise further in the coming days in an attempt to recover the 1.02 resistance if all goes well for the European Central Bank (ECB) and Eurozone economies this Thursday.

The Dow Jones Industrial Average declined during its recent trading at the intraday levels, after erasing its early gains for the session, to close its last session with a decrease of -0.69%.

The Australian dollar initially tried to rally Monday but has struggled near the 0.6850 level.

The US dollar pulled back a bit Monday to show signs of hesitation.

The NASDAQ 100 initially tried to rally Monday but has also failed just above the 50-day EMA.

The British pound tried to bounce a couple of times over the last several days, but right now it looks as if the 1.20 level is going to continue to offer major resistance.

The S&P 500 initially rallied on Monday but gave back gains as soon as we got to the 50-day EMA.

Bitcoin rallied rather significantly on Monday, as it looks like we are trying to break out of the consolidation area that we have been in.

The West Texas Intermediate Crude Oil market has jumped quite significantly Monday as the trip to Saudi Arabia proved fruitless for Joe Biden.

The euro rallied rather significantly on Monday to reach to the 1.02 region.

On Monday, we saw a continuation of the bullish pressure in Ethereum that had been a major force over the weekend.

Gold markets rallied rather significantly in the early hours on Monday, as the market reached the $1725 level.